No Economic JFK Fiscal Policy: In entertaining a near-doubling of the capital gains tax, Barack Obama shows that, unlike JFK, to whom he so often is compared, he under-appreciates the key link between investment and prosperity. (Via IBD Editorials)

The economic news of late has been fairly gloomy. I've been hearing and seeing the ' new great depression' being tossed around like it's imminent. Maybe it is if you bought a $250k on a $50k a year salary. At any rate, here's a round up from various sources whom all have various and sundried links as well.

Media Made Depression Journalism: It's been said the press notice the homeless problem only when a Republican's in office. The same could be said for food stamps, which the media now are using as an economic indicator. When you click on the article pay attention to the chart on the right. (Via IBD Editorials)

The 'recession' is a media myth "As most experts know, our economy is in a recession." -Barack Obama. Hillary Clinton made similar statements last fall. Yet, as any economist knows, a recession is two consecutive quarters of negative growth, and we haven't even had one single quarter of negative growth reported. The economy slowed down significantly during the end of last year, but that was after a sizzling annual GDP growth rate of 4.9 percent in the third quarter." (Via Fox News)

Does big government need to rescue big money? Remember how back after the tech-stock implosion in 2000, Congress passed all those new laws and regulations to prevent companies with fanciful business models and completely unrealistic profit projections from going public? You don't? Well, that's because it didn't happen. It didn't have to. (Via US News)

Paulson's Plans Bank Reform: Treasury Secretary Henry Paulson has proposed sweeping new financial reforms that would in many ways be an improvement over the dysfunctional system we now have. But we do have some concerns. (Via IBD Editorials)

And from the news of the second great depression we skip over to O-I-L and Global Warming

Climate change and adaptation fee It's another fancy term for a new tax. Heads up LA. Your elected leaders want to raise your taxes to force you to help combat global warming . Can someone please explain how paying higher taxes alleviates global whatever? (Via Lucianne)

I think I get the last item. You have to think like a liberal to get it, so possible side effects include severe headaches, weakened knees, spinal deterioration, and a distinct yellowing streak along the length of the back - but it's for science:

Naturally, higher taxes in LA don't directly affect "global warming" one way or the other. However, by saying the higher taxes are "for" global warming makes them feel as if they are doing something about it. As we already understand, to liberals it is far more important to feel you are doing something than to actually do it. Perception becomes reality, and Voila! - any "climate change" may remain unchanged, but doggone it, don't ya feel better already?